Anthony Pompliano, Co-Founder of digital asset management company Morgan Creek Digital, said his view of Bitcoin as a global hedge has solidified over time.
"I think it's always been part of the conversation," Pompliano told Cointelegraph in a Jan. 30 interview on his notion of Bitcoin as a traditional market hedge over the years.
The expert expressed a growing assurance in this concept of Bitcoin as a global hedge as supporting evidence continues to present itself.
Bitcoin acts differently from traditional assetsIn past years, Pompliano has gone on the record multiple times with the view that Bitcoin is a non-correlated asset - meaning the asset does not necessarily rise and fall with the rest of the traditional market.
The Morgan Creek co-founder expressed this sentiment to CNBC in an August 2019 interview, as Bitcoin rose in price amid a period of economic uncertainty.
Pompliano has not changed his stance on Bitcoin as a non-correlated asset.
"The most important part of Bitcoin, when it comes to the global hedge, is the fact that it's a non-correlated asset - meaning that, as stocks go up or down, Bitcoin doesn't have correlation to that."
Mentioning May 2019 as an example, Pompliano said Bitcoin's price even moved in the opposite direction of the traditional market's S&P 500 index, as well as gold, amid trade wars and other worldwide market instability.
Pompliano called this a negative-correlation for Bitcoin.
Bitcoin reportedly accounts for 50% of Pompliano's capital, according to an interview with Cointelegraph in July 2019.
Bitcoin Hedge Argument Growing Stronger With Time, Says Pomp
Published on Feb 5, 2020
by Cointele | Published on Coinage
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